Fermi (NASDAQ:FRMI) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Fermi from “hold” to “sell”, adding to a mixed analyst picture for the stock. MarketBeat says the overall consensus is still “Moderate Buy” with an average target price of $26.67.
• Fermi’s shares were trading at $5.23 on Friday, well below both its 50-day moving average of $6.72 and 200-day moving average of $11.25. The stock has also ranged from a 52-week low of $4.47 to a high of $36.99.
• Insider selling was notable, with CFO Miles E. Everson and insider Charles Lynn Hamilton both selling large blocks of shares in April. The company said it aims to power AI infrastructure with up to 11 GW of low-carbon energy and has a site large enough for major data center campuses.

Fermi (NASDAQ:FRMI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

Several other research analysts have also recently weighed in on FRMI. Texas Capital upgraded shares of Fermi to a "strong-buy" rating in a research report on Tuesday, January 20th. Weiss Ratings restated a "sell (e+)" rating on shares of Fermi in a research report on Monday, March 23rd. Citizens Jmp began coverage on shares of Fermi in a research report on Monday, February 9th. They issued a "market outperform" rating and a $30.00 price objective for the company. UBS Group cut shares of Fermi from a "buy" rating to a "neutral" rating and set a $6.00 price objective for the company. in a research report on Tuesday. Finally, Cantor Fitzgerald began coverage on shares of Fermi in a research report on Thursday, April 9th. They issued an "overweight" rating and a $8.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Fermi presently has a consensus rating of "Moderate Buy" and an average target price of $26.67.

Fermi Price Performance

FRMI stock opened at $5.23 on Friday. The company has a 50 day moving average price of $6.72 and a 200 day moving average price of $11.25. Fermi has a fifty-two week low of $4.47 and a fifty-two week high of $36.99. The stock has a market capitalization of $3.33 billion and a PE ratio of -6.23.

Insider Buying and Selling at Fermi

In other news, CFO Miles E. Everson sold 427,004 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,955,678.32. Following the completion of the transaction, the chief financial officer directly owned 9,969,791 shares in the company, valued at $45,661,642.78. This represents a 4.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles Lynn Hamilton sold 398,140 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $4.58, for a total transaction of $1,823,481.20. Following the transaction, the insider owned 5,525,910 shares of the company's stock, valued at approximately $25,308,667.80. This represents a 6.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,435,207 shares of company stock valued at $67,803,539.

Hedge Funds Weigh In On Fermi

Large investors have recently modified their holdings of the business. Leonteq Securities AG acquired a new position in shares of Fermi during the 4th quarter worth about $30,000. PNC Financial Services Group Inc. bought a new stake in shares of Fermi in the 4th quarter valued at about $36,000. Aspect Partners LLC bought a new stake in shares of Fermi in the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. bought a new stake in shares of Fermi in the 4th quarter valued at about $41,000. Finally, MML Investors Services LLC bought a new stake in shares of Fermi in the 4th quarter valued at about $81,000.

About Fermi

Fermi's mission is to power the artificial intelligence (“AI”) needs of tomorrow. We are an advanced energy and hyperscaler development company purpose-built for the AI era. Our mission is to deliver up to 11 gigawatts (“GW”) of low-carbon, HyperRedundant™, and on-demand power directly to the world's most compute-intensive businesses with 1.1 GW of power projected to be online by the end of 2026. We have entered into a long-term lease on a site large enough to simultaneously house the next three largest data center campuses by square footage currently in existence.

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